Sabre talks $400 million seven-year notes with 8½%-8¾% yield

By Paul A. Harris

Portland, Ore., May 1 - Sabre Holdings talked its $400 million offering of seven-year senior secured notes (B1/B) to yield 8½% to 8¾%, a syndicate source said on Tuesday.

The deal is set to price on Wednesday afternoon.

Goldman Sachs & Co., Bank of America Merrill Lynch, Barclays Capital Inc., Deutsche Bank Securities Inc., Mizuho Securities, Morgan Stanley & Co. LLC and Natixis are the joint bookrunners.

The Rule 144A and Regulation S notes come with three years of call protection.

The Southlake, Texas-based travel technology company plans to use the proceeds to repay portions of its outstanding loans due 2014 as part of a proposed amendment and extension of its credit facility and for general corporate purposes.

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